Most interesting today is GBPJPY good unemployment figures @ 9:30AM but be careful. No trade GBPUSD and NZDUSD targets too small and GPBUSD are going to struggle against each other.

I accidentally put a BUY on GBPJPY instead of an order. So I’ve got a stop in at 151.13 below the resistance… it’s moving bearish now but that is just squaring up (even though there is volume). I would imagine prior to 9:30AM GBP will rally big time and I may pull out before the news or flatten out my stop. (Flattening is when you move your stop loss to $0. You should normally do this when your trade is 17 to 21 pips in profit depending on market conditions.

So here’s how I played it, and got 65 pips profit.

1. Trade went to about 15 pips profit before news, I set the stop loss to $0 break even that way if the news was bad then I would be ok.

2. News was good (whoohoo!) GBP rallied for 55/56 pips which is the magic number.

3. Now I wait for the hook down and a buy signal again they have to square up back 25 pips.

CHART 1 : (prior news daily)

CHART 2: Post News

10 minute you can see the hook is already forming

Note – wait EXACTLY 3 minutes after the news at that point it’s reached its max before closing.